ROWSLEY LTD. (Incorporated in the Republic of Singapore) (Company Registration No: D) (the Company )

ROWSLEY LTD. (Incorporated in the Republic of Singapore) (Company Registration No: 199908381D) (the Company ) Unaudited Third Quarter Financial Statement Announcement For The Financial Period Ended 30 September 2017 PART I - 1(a) (i) INFORMATION REQUIRED FOR QUARTERLY (Q1, Q2 & Q3), HALF YEAR AND FULL YEAR ANNOUNCEMENTS A statement of comprehensive income, for the group, together with a comparative statement for the corresponding period of the immediately preceding financial year. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE FINANCIAL PERIOD ENDED 30 SEPTEMBER 2017 3 rd quarter ended 30 September 9 months ended 30 September 2017 2016 Change 2017 2016 Change $ 000 $ 000 % $ 000 $ 000 % Revenue 26,168 24,604 6 71,246 67,409 6 Other income A 1,738 3,367 (48) 6,891 8,983 (23) Staff costs (17,546) (17,661) (1) (53,980) (48,523) 11 Other expenses B (9,247) (8,853) 4 (25,113) (28,044) (10) Foreign exchange loss, net (120) (217) (45) (584) (2,233) (74) Share of profit of associated companies 350 1,074 (67) 1,690 1,142 48 Fair value changes in purchase consideration (7,919) (749) 957 (830) 8,251 NM payable Gain on remeasurement of previously held equity - 7,163 NM - 7,163 NM interest in an associate which became subsidiary (Loss)/Profit before interest, tax, depreciation (6,576) 8,728 NM (680) 14,148 NM and amortisation (EBITDA) Interest income 39 43 (9) 116 178 (35) Finance costs C (1,857) (1,893) (2) (5,546) (5,679) (2) Depreciation and amortisation (1,355) (1,531) (11) (4,120) (4,627) (11) Results from operating activities (9,749) 5,347 NM (10,230) 4,020 NM Tax (expense)/credit D (201) (156) 29 (406) 197 NM (Loss)/Profit for the period (9,950) 5,191 NM (10,636) 4,217 NM Other comprehensive income Items that are or may be reclassified subsequently to profit or loss: Foreign currency translation differences - foreign operations Net change in fair value of available-for-sale financial assets Other comprehensive income for the period, net of tax 1,939 (6,846) NM 1,146 (10,821) NM (111) (463) (76) (604) (1,028) (41) 1,828 (7,309) NM 542 (11,849) NM Total comprehensive income for the period (8,122) (2,118) 283 (10,094) (7,632) 32 (Loss)/Profit attributable to: Equity holders of the Company (9,800) 5,394 NM (10,156) 4,866 NM Non-controlling interests (150) (203) (26) (480) (649) (26) (Loss)/Profit for the period (9,950) 5,191 NM (10,636) 4,217 NM Total comprehensive income attributable to: Equity holders of the Company (8,080) (1,686) 379 (9,785) (5,381) 82 Non-controlling interests (42) (432) (90) (309) (2,251) (86) Total comprehensive income for the period (8,122) (2,118) 283 (10,094) (7,632) 32 NM Not meaningful 1

Earnings per share attributable to ordinary shareholders of the Company (cents per share) 3 rd quarter ended 30 September 9 months ended 30 September 2017 2016 2017 2016 Basic earnings per share (0.207) 0.116 (0.216) 0.107 Diluted earnings per share (0.207) 0.116 (0.216) 0.107 1 (a) (ii) Notes to the Consolidated Statement of Comprehensive Income 3 rd quarter ended 30 September 9 months ended 30 September 2017 2016 Change 2017 2016 Change $ 000 $ 000 % $ 000 $ 000 % (A) Other income Management consultancy fee 188 138 36 705 544 30 Sales of prints 76 40 90 213 137 55 Jobs credit/government grant 44 175 (75) 438 590 (26) Wages reimbursed from customers 1,397 2,255 (38) 5,395 6,884 (22) Gain on disposal of available for sale financial assets - - NM - 32 NM Gain on disposal of property, plant and equipment 2 10 (80) 2 11 (82) Others 31 749 (96) 138 785 (82) 1,738 3,367 (48) 6,891 8,983 (23) (B) Other expenses Selling and marketing expenses (124) (876) (86) (382) (2,639) (86) Directors fee (99) (91) 9 (260) (280) (7) Professional fees (350) (580) (40) (1,246) (1,667) (25) Rental (1,575) (1,545) 2 (4,633) (4,178) 11 Travelling and entertainment expenses (606) (511) 19 (2,063) (1,527) 35 Loss on disposal of property, plant and equipment - - NM - (63) NM Repairs and maintenance (597) (500) 19 (1,670) (1,454) 15 Project expenses (3,037) (2,067) 47 (8,755) (9,543) (8) Administrative expenses (73) (93) (22) (195) (236) (17) Reversal of allowance for foreseeable losses (639) (85) 652 29 380 (92) Gifts and donations - (19) NM (10) (361) (97) Advertisement (44) (63) (30) (181) (126) 44 Telephone and internet (64) (74) (14) (237) (218) 9 Utilities (97) (84) 15 (274) (229) 20 Printing and stationery (103) (124) (17) (286) (294) (3) Leasing of office equipment (56) 13 NM (135) (106) 27 Hotel and café operating costs (1,147) (1,040) 10 (3,284) (3,316) (1) Impairment loss on trade and other (149) (471) (68) (149) (471) (68) receivables Others (487) (643) (24) (1,382) (1,716) (19) (9,247) (8,853) 4 (25,113) (28,044) (10) 2

3 rd quarter ended 30 September 9 months ended 30 September 2017 2016 Change 2017 2016 Change $ 000 $ 000 % $ 000 $ 000 % (C) Finance costs Interest on bank loans (121) (164) (26) (398) (535) (26) Interest expense on Medium Term Notes (1,736) (1,729) 0 (5,148) (5,144) 0 (1,857) (1,893) (2) (5,546) (5,679) (2) (D) Tax expense Current tax expense (106) (274) (61) (383) (442) (13) Current deferred tax credit 110 63 75 328 587 (44) (Over)/Under provision in respect of prior (205) 55 NM (351) 52 NM years (201) (156) 29 (406) 197 NM NM Not meaningful 3

1(b)(i) A statement of financial position (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year. STATEMENTS OF FINANCIAL POSITION Company As at As at As at As at 30 Sep 17 31 Dec 16 30 Sep 17 31 Dec 16 $ 000 $ 000 $ 000 $ 000 ASSETS Non-current assets Property, plant and equipment 62,005 56,173 132 161 Goodwill 93,251 78,873 - - Intangible assets 3,170 4,443 - - Investment property 148,447 148,444 - - Subsidiaries - - 500,913 507,416 Associates 25,905 26,866 - - Other investments 1,437 2,041 - - Deferred tax assets 537 548 - - 334,752 317,388 501,045 507,577 Current assets Development property 140,163 140,163 - - Work-in-progress 38,276 35,863 - - Inventories 290 302 - - Amounts due from subsidiaries non-trade - - 28,178 9,627 Trade and other receivables 35,671 37,149 1,326 380 Cash and cash equivalents 26,695 37,580 6,461 6,644 241,095 251,057 35,965 16,651 Total assets 575,847 568,445 537,010 524,228 EQUITY Share capital 788,267 782,967 788,267 782,967 Fair value reserve (241) 363 - - Foreign currency translation reserve (71,184) (72,159) - - Accumulated losses (316,067) (305,911) (351,832) (360,848) Equity attributable to owners of the Company 400,775 405,260 436,435 422,119 Non-controlling interests 1,791 2,140 - - Total equity 402,566 407,400 436,435 422,119 LIABILITIES Non-current liabilities Deferred tax liabilities 3,046 3,171 20 20 Borrowings 19,883 116,100-99,526 Purchase consideration payable 22,183 11,513 - - 45,112 130,784 20 99,546 Current liabilities Excess of progress billings over work-in-progress 6,046 3,714 - - Trade and other payables 21,116 24,846 747 2,563 Current tax payable 399 706 - - Purchase consideration payable 800 - - - Borrowings 99,808 995 99,808-128,169 30,261 100,555 2,563 Total liabilities 173,281 161,045 100,575 102,109 TOTAL EQUITY AND LIABILITIES 575,847 568,445 537,010 524,228 4

1(b) (ii) Aggregate amount of the group s borrowings and debt securities. Amount repayable in one year or less, or on demand: As at 30 Sep 2017 As at 31 Dec 2016 Secured Unsecured Secured Unsecured $ 000 $ 000 $ 000 $ 000 Bank loan - - 995 - Medium Term Notes - 99,808 - - Amount repayable after one year: As at 30 Sep 2017 As at 31 Dec 2016 Secured Unsecured Secured Unsecured $ 000 $ 000 $ 000 $ 000 Bank loan 19,883-16,574 - Medium Term Notes - - - 99,526 Medium Term Notes ( MTN ) On 27 March 2015, the Company issued S$100 million 6.5 per cent fixed rate notes due 2018 ( Notes ) under the S$500 million Multicurrency Medium Term Note Programme that was established on 17 November 2014. The net proceeds arising from the issuance of the Notes (after deducting issue expenses) would be used for general corporate purposes of the Company and its subsidiaries, including, but not limited to, financing investments, acquisitions and expansion, repayment of borrowings, general working capital and capital expenditure requirements of the Company and/or its subsidiaries. Details of Collateral The Notes are secured by a charge over an interest service reserve account in which the Company maintains an interest reserve amount equivalent to six months interest on the Notes. One of the bank loans is secured by a fixed and floating charge over the assets of the borrowing subsidiary. Another bank loan is secured by the shares of the borrowing subsidiary held by the borrowing subsidiary s holding company. 5

1(c) A statement of cash flows (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial year. CONSOLIDATED STATEMENT OF CASH FLOWS Cash flows from operating activities 3 rd quarter ended 30 September 9 months ended 30 September 2017 2016 2017 2016 $ 000 $ 000 $ 000 $ 000 (Loss)/Profit for the period (9,950) 5,191 (10,636) 4,217 Adjustments for: - Tax expense/ (credit) 201 156 406 (197) - Depreciation of property, plant and equipment 931 1,332 2,847 4,032 - Amortisation of intangible assets 424 199 1,273 595 - Gain on disposal of available-for-sale financial assets - - - (32) - Gain on disposal of property, plant and equipment (2) (10) (2) (11) - Loss on disposal of property, plant and equipment - - - 63 - Interest income (39) (43) (116) (178) - Interest expense 1,857 1,893 5,546 5,679 - Share of profit of associated companies (350) (1,074) (1,690) (1,142) - Gain on remeasurement of previously held equity interest in - (7,163) - (7,163) a An associate which became a subsidiary - Fair value changes in purchase consideration payable, net 7,919 749 830 (8,251) of settlement loss - Impairment loss on trade and other receivables 149 471 149 471 - Reversal of impairment loss on trade and other receivables (74) - (178) - - Addition/(Reversal) of allowance for foreseeable losses 639 85 (29) (380) - Unrealised foreign exchange loss/(gain) 82 1,048 (9) 2,071 Operating profit/(loss) before working capital changes 1,787 2,834 (1,609) (226) Changes in working capital : - Inventories (1) (21) 12 (28) - Work-in-progress (1,940) (2,275) (2,384) (446) - Trade and other receivables (2,730) 8,760 3,444 16,605 - Trade and other payables 1,913 (1,159) (2,822) (5,586) - Progress billings 615 (2,036) 2,332 (464) Cash generated from operations (356) 6,103 (1,027) 9,855 - Interest received 28 30 85 141 - Tax paid (217) (1,022) (1,025) (2,755) Net cash (used in)/generated from operating activities (545) 5,111 (1,967) 7,241 Cash flows from investing activities Net cash flows on acquisition of subsidiaries - 3,274 877 3,274 Investment in an associated company - - (70) - Additions to property, plant and equipment (2,215) (1,009) (6,747) (1,941) Proceeds from disposal of property, plant and equipment 2 10 2 135 Net proceeds from disposal of available-for-sale financial - - - 32 assets Expenditure on investment properties - (232) (3) (756) Dividend received from an associated company - - 2,873 1,396 Movement in fixed deposits 3,368 (626) 1,336 (1,304) Net cash generated from/(used in) investing activities 1,155 1,417 (1,732) 836 Cash flows from financing activities Expenditure from issuance and listing of ordinary shares - - (60) (30) Interest paid (3,496) (3,707) (7,185) (7,318) Proceeds from / (Repayment) of borrowings 1,409-1,653 (248) Net cash used in financing activities (2,087) (3,707) (5,592) (7,596) 6

3 rd quarter ended 30 September 9 months ended 30 September 2017 2016 2017 2016 $ 000 $ 000 $ 000 $ 000 Net (decrease)/increase in cash and cash equivalents (1,477) 2,821 (9,291) 481 Cash and cash equivalents at beginning of the period 24,812 30,331 32,929 34,059 Effect of exchange rate changes on cash held 45 (95) (258) (1,483) Cash and cash equivalents at end of the period 23,380 33,057 23,380 33,057 Cash and cash equivalents comprise: Cash and bank balances 23,324 29,837 23,324 29,837 Short-term deposits 3,371 7,791 3,371 7,791 26,695 37,628 26,695 37,628 Less: Fixed deposits with maturities of more than 3 months - (1,304) - (1,304) Cash held in interest service reserve account (3,315) (3,267) (3,315) (3,267) Cash and cash equivalents in the consolidated statement of cash flows 23,380 33,057 23,380 33,057 Notes to Consolidated Statement of Cash Flows During the financial period ended 30 September 2017, the completed the following acquisitions: (i) Acquisition of the entire issued and paid-up share capital of AC Consortium Pte Ltd ( AC Consortium ) on 30 June 2017. The aggregate consideration for the acquisition was up to $8,000,000, to be satisfied by way of allotment and issue of new shares of the Company. An initial consideration of $4,400,000 amounting to 60,773,480 shares based on a weighted average share price of $0.0724 per share were allotted and issued to AC Consortium vendors. (ii) Acquisition of the entire issued and paid-up share capital of Ariva Pte Ltd ( Ariva ) on 28 February 2017. The aggregate consideration for the acquisition was up to $10,600,000, to be satisfied by way of cash and the allotment and issue of new shares of the Company, at an issue price of $0.15 per consideration share. An initial consideration of 8,000,000 shares amounting to $960,000, based on the closing share price of $0.12 per share on the acquisition date, were allotted and issued to Ariva vendors together with cash payment of $1,000,000. ((i) and (ii) collectively known as the Acquisitions.) For the above Acquisitions, the balance of the consideration shall be paid and/or allotted subject to the terms and conditions set out in the sale and purchase agreement, which includes the achievement of certain targets. 7

The identifiable assets acquired, liabilities assumed and the net cash flows from the Acquisitions were as follows: AC Consortium Ariva Total $ 000 $ 000 $ 000 Property, plant and equipment 4 2 6 Cash and cash equivalents 1,712 165 1,877 Investment in associates - 151 151 Trade and other receivables 1,115 528 1,643 Trade and other payables (153) (701) (854) Non-controlling interests - 40 40 Total net assets of subsidiary company 2,678 185 2,863 Provisional goodwill arising from acquisition 5,322 8,815 14,137 Total purchase consideration 8,000 9,000 17,000 Initial consideration: - Issue of shares 4,400 960 5,360 - Cash paid - 1,000 1,000 Purchase consideration payable 3,600 7,040 10,640 8,000 9,000 17,000 Net cash outflows from the acquisition Cash and cash equivalents acquired 1,712 165 1,877 Purchase consideration paid - (1,000) (1,000) Net cashflows on acquisition 1,712 (835) 877 8

1(d)(i) A statement (for the issuer and group) showing either (i) all changes in equity or (ii) changes in equity other than those arising from capitalisation issues and distributions to shareholders, together with a comparative statement for the corresponding period of the immediately preceding financial year. STATEMENT OF CHANGES IN EQUITY Attributable to owners of the Company Foreign Share capital currency translation reserve Fair value reserve Accumulated losses Total Noncontrolling interests Total equity $ 000 $ 000 $ 000 $ 000 $ 000 $ 000 $ 000 At 1 January 2017 782,967 (72,159) 363 (305,911) 405,260 2,140 407,400 Total comprehensive income for the period Loss for the period - - - (10,156) (10,156) (480) (10,636) Other comprehensive income Foreign currency translation differences for foreign operations - 975 - - 975 171 1,146 Net change in fair value of available-for-sale financial assets - - (604) - (604) - (604) Total comprehensive income for the period - 975 (604) (10,156) (9,785) (309) (10,094) Transactions with owners, recorded directly in equity Contribution by and distributions to owners Issuance of ordinary shares 5,360 - - - 5,360-5,360 Issue costs (60) - - - (60) - (60) Total contribution by and distributions to owners 5,300 - - - 5,300-5,300 Changes in ownership interests in subsidiaries Acquisition of subsidiary with non-controlling interests - - - - - (40) (40) Total changes in ownership interests in subsidiary - - - - - (40) (40) Total transactions with owners, recorded directly in equity 5,300 - - - 5,300 (40) 5,260 At 30 September 2017 788,267 (71,184) (241) (316,067) 400,775 1,791 402,566 9

Attributable to owners of the Company Foreign Share capital currency translation reserve Fair value reserve Accumulated losses Total Noncontrolling interests Total equity $ 000 $ 000 $ 000 $ 000 $ 000 $ 000 $ 000 At 1 January 2016 742,202 (56,741) 290 (242,613) 443,138 7,647 450,785 Total comprehensive income for the period Profit/(Loss) for the period - - - 4,866 4,866 (649) 4,217 Other comprehensive income Foreign currency translation differences for foreign operations - (9,219) - - (9,219) (1,602) (10,821) Net change in fair value of available-for-sale financial assets - - (1,028) - (1,028) - (1,028) Total comprehensive income for the period - (9,219) (1,028) 4,866 (5,381) (2,251) (7,632) Transactions with owners, recorded directly in equity Contribution by and distributions to owners Issuance of ordinary shares 40,795 - - - 40,795-40,795 Issue costs (30) - - - (30) - (30) Total contribution by and distributions to owners 40,765 - - - 40,765-40,765 Total transactions with owners, recorded directly in equity 40,765 - - - 40,765-40,765 At 30 September 2016 782,967 (65,960) (738) (237,747) 478,522 5,396 483,918 10

STATEMENT OF CHANGES IN EQUITY Company Share Accumulated Total capital losses equity $ 000 $ 000 $ 000 At 1 January 2017 782,967 (360,848) 422,119 Total comprehensive income for the period Profit for the period - 9,016 9,016 Total comprehensive income for the period - 9,016 9,016 Transactions with owners, recorded directly in equity Contribution by and distributions to owners Issuance of ordinary shares 5,360-5,360 Issue costs (60) - (60) Total contribution by and distributions to owners 5,300-5,300 At 30 September 2017 788,267 (351,832) 436,435 At 1 January 2016 742,202 (306,720) 435,482 Total comprehensive income for the period Profit for the period - 1,439 1,439 Total comprehensive income for the period - 1,439 1,439 Transactions with owners, recorded directly in equity Contribution by and distributions to owners Issuance of ordinary shares 40,795-40,795 Issue costs (30) - (30) Total contribution by and distributions to owners 40,765-40,765 At 30 September 2016 782,967 (305,281) 477,686 1(d)(ii) Details of any changes in the company's share capital arising from rights issue, bonus issues, share buy-backs, exercise of share options or warrants, conversion of other issues of equity securities, issue of shares for cash or as consideration for acquisition or for any other purpose since the end of the previous period reported on. State also the number of shares that may be issued on conversion of all the outstanding convertibles, as well as the number of shares held as treasury shares, if any, against the total number of issued shares excluding treasury shares of the issuer, as at the end of the current financial period reported on and as at the end of the corresponding period of the immediately preceding financial year. There was no change in the Company s share capital since 30 June 2017. As at 30 September 2017, there was no outstanding warrant (30 September 2016: 1,971,328,530). 1(d)(iii) To show the total number of issued shares excluding treasury shares as at the end of current financial period and as at end of the immediately preceding year. As at As at 30 Sep 2017 31 Dec 2016 Number of issued shares 4,738,417,411 4,669,643,931 Number of treasury shares Nil Nil 1(d)(iv) A statement showing all sales, transfers, disposals, cancellation and/or use of treasury shares as at the end of the current financial period reported on. There was no sale, transfer, disposal, cancellation and/or use of treasury shares as at the end of the current financial period reported on. 11

2. Whether the figures have been audited or reviewed, and in accordance with which auditing standard or practice. The figures have neither been audited nor reviewed by the Company s auditors. 3. Where the figures have been audited or reviewed, the auditors report (including any qualifications or emphasis of a matter). Not applicable. 4. Whether the same accounting policies and methods of computation as in the issuer s most recently audited annual financial statements have been applied. The has applied the same accounting policies and methods of computation in the financial statements for the period ended 30 September 2017, as compared with the s audited financial statements for the year ended 31 December 2016. 5. If there are any changes in the accounting policies and methods of computation, including any required by an accounting standard, what has changed, as well as the reasons for, and the effect of, the change. There is no change in the accounting policies and methods of computation adopted. 6. Earnings per ordinary share ( EPS ) of the group for the current financial period reported on and the corresponding period of the immediately preceding financial year, after deducting any provision for preference dividends :- (a) (b) Based on the weighted average number of ordinary shares on issue; and On a fully diluted basis (detailing any adjustments made to the earnings). 3rd quarter ended 9 months ended 30 September 30 September 2017 2016 2017 2016 EPS based on net profit attributable to shareholders of the Company (cents): Basic (0.207) 0.116* (0.216)* 0.107* Diluted (0.207)** 0.116** (0.216)** 0.107** Weighted average number of ordinary shares on issue as at the end of the period Weighted average number of ordinary shares on issue after adjusting for effects of dilutive warrants as at the end of the period 4,738,417,411 4,656,189,757 4,696,647,351 4,565,217,113 4,738,417,411 4,656,189,757 4,696,647,351 4,565,217,113 * Based on weighted average number of fully paid shares in issue ** The diluted earnings per share is the same as the basic earnings per share as there were no dilutive potential ordinary shares 12

7. Net asset value (for the issuer and group) per ordinary share based on the total number of issued shares excluding treasury shares of the issuer at the end of the:- (a) (b) current financial period reported on; and immediately preceding financial year. As at 30 Sep 2017 31 Dec 2016 Net asset value per ordinary share of (cents) 8.46 8.68 Company (cents) 9.21 9.04 8. A review of the performance of the group, to the extent necessary for a reasonable understanding of the group s business. It must include a discussion of the following:- (a) (b) any significant factors that affected the turnover, costs, and earnings of the group for the current financial period reported on, including (where applicable) seasonal or cyclical factors; and any material factors that affected the cash flow, working capital, assets or liabilities of the group during the current financial period reported on. Review of Statement of Comprehensive Income Third quarter ended 30 September 2017 ( Q3FY2017 ) vs Third quarter ended 30 September 2016 ( Q3FY2016 ) 1. The reported a revenue of $26.17 million for Q3FY2017, as compared to $24.60 million recorded in Q3FY2016. The increase of $1.57 million or 6% was mainly due to new revenue of $2.44 million from Squire Mech Pte Ltd (which became a wholly-owned subsidiary company in August 2016), $1.01 million from AC Consortium Pte Ltd and $0.36 million from hospitality segment but offset by RSP revenue which fell $2.28 million in the same period. 2. Other income for Q3FY2017 amounted to $1.74 million, as compared to $3.37 million recorded for Q3FY2016. The decrease of $1.63 million or 48% was primarily attributable to decline in wages reimbursed from customers. 3. Operating expenses amounted to $9.25 million for Q3FY2017, a decrease of $0.39 million or 4%. The decrease was mainly due to reduction in marketing and selling expenses of $0.75 million, offset by increase in project expenses of $0.97 million in the same period. 4. The fair value changes of $7.92 million for Q3FY2017 arose from remeasurement of the Company s purchase consideration payable in the form of share payment at the higher closing share price as at 30 September 2017. 5. Share of profit from associated companies decreased to $0.35 million in Q3FY2017 from a gain of $1.07 million in Q3FY2016, as the improved financial performance of RSP India and RSP Malaysia were more significant in the same quarter last year and Squire Mech ceased to be an associated company in August 2016. 6. The decrease in depreciation and amortisation of $0.17 million or 11%, from $1.53 million in Q3FY2016 to $1.36 million in Q3FY2017, was primarily due to lower depreciation charges arising from accounting adjustments for Hotel Football and weaker sterling pound, offset by an increase in amortisation of intangible assets of $0.28 million, arising from the acquisition of Squire Mech. 7. Overall, the recorded a negative EBITDA of $6.58 million and a loss for the period of $9.95 million. 13

9 months ended 30 September 2017 ( 9MFY2017 ) vs 9 months ended 30 September 2016 ( 9MFY2016 ) 1. The reported a revenue of $71.25 million for 9MFY2017, as compared to $67.41 million in the same period last year. The increase of $3.84 million or 6% was mainly due to new revenue of $12.62 million from Squire Mech but offset by a fall in RSP revenue of $9.28 million in the same period. 2. Other income for 9MFY2017 amounted to $6.89 million, as compared to $8.98 million recorded for 9MFY2016. The decrease of $2.09 million or 23% was primarily attributable to decline in wages reimbursed from customers. 3. Staff costs were $53.98 million for 9MFY2017, an increase of $5.46 million or 11% from 9MFY2016. This was mainly contributed by Squire Mech amounting to $5.82 million. 4. Operating expenses amounted to $25.11 million for 9MFY2017, a decrease of $2.93 million or 10%. The decrease was mainly due to reduction in project and professional fees of $1.21 million as well as marketing and selling expenses of approximately $2.26 million. However, this was offset by an increase in rental expenses of $0.46 million and travelling expenses of $0.54 million attributable to Squire Mech and AC Consortium. 5. The net foreign exchange loss of $0.58 million mainly arose from realised foreign exchange loss in first quarter of the year as a result of depreciation of Sterling pound against Singapore dollar. 6. Share of profit from associated companies increased to $1.69 million for 9MFY2017, an increase of $0.55 million or 48%. It was a result a share of losses of $0.73 million from Squire Mech as an associate company for 9MFY2016, prior to it being a wholly-owned subsidiary in August 2016. 7. The fair value loss of $0.83 million for 9MFY2017 arose from remeasurement of the Company s purchase consideration payable in the form of share payment at the higher closing share price as at 30 September 2017. 8. The decrease in depreciation and amortisation of $0.51 million, from $4.63 million in 9MFY2016 to $4.12 million in 9MFY2017, was primarily due to lower depreciation charges as a result of accounting adjustments for Hotel Football, offset by an increase of $0.86 million in amortisation of intangible assets arising from the acquisition of Squire Mech. 9. Overall, the recorded a negative EBITDA of $0.68 million and a loss for the period of $10.64 million. Review of Statement of Financial Position 1. The recorded net assets of $402.57 million as at 30 September 2017 compared with $407.40 million as at 31 December 2016, before excluding minority interests. The decrease was mainly due to fair value changes in purchase consideration payable in the form of share payment at a higher closing share price as at 30 September 2017. 2. The recorded property, plant and equipment of $62.01 million as at 30 September 2017 compared with $56.17 million as at 31 December 2016. The increase was due to construction-inprogress of Stock Exchange Hotel in UK. 3. The increase in goodwill from $78.87 million as at 31 December 2016 to $93.25 million as at 30 September 2017 was mainly due to provisional goodwill arising from the acquisition of AC Consortium Pte Ltd and Ariva Pte Ltd. 4. The decline in trade and other receivables from $37.15 million as at 31 December 2016 to $35.67 million as at 30 September 2017 was largely due to increase in collections by RSP, offset by deposits of $0.69 million for new office premises. 5. The decline in the associates was primarily due to receipt of dividend from RSP India during the nine months ended 30 September 2017. 14

6. The recorded a lower debit balance of foreign currency translation reserve balance of $71.18 million as at 30 September 2017, compared to $72.16 million as at 31 December 2016. The decrease was largely due as a result of strengthening of Sterling Pound against Singapore Dollar in Q3FY2017 which impacted on the translation of the s UK subsidiaries. 7. The increase in purchase consideration payable, from $11.51 million as at 31 December 2016 to $22.98 million as at 30 September 2017, was due to new additions of earn-out consideration payable to vendors following the s acquisitions of Ariva Pte Ltd and AC Consortium Pte Ltd in February 2017 and June 2017 respectively. 8. Trade and other payables declined to $21.12 million, a decrease of $3.73 million. This was primarily due to increase in payments by RSP, as well as, certain accruals and provisions reflected would relate to a nine-month period instead of a full fiscal year period. 9. Due to the foregoing, net asset value per share for the decreased to 8.46 cents as at 30 September 2017, from 8.68 cents as at 31 December 2016. Review of Statement of Cash Flows 1. Net cash used in operating activities for Q3FY2017 amounted to $0.54 million, which was mainly due to negative working capital changes and tax payment. 2. Net cash generated from investing activities for Q3FY2017 was $1.15 million, which was mainly attributable to net maturity of fixed deposits amounting $3.37 million, offset by additions of property, plant and equipment of $2.22 million. 3. Net cash used in financing activity for Q3FY2017 of 2.09 million was mainly due to payment of interest of $3.50 million, offset by new borrowings of $1.41million. 4. Overall, the net decrease in cash and cash equivalents for Q3FY2017 was $1.48 million. 5. As at 30 September 2017, the s cash and cash equivalents amounted to $23.38 million. 9. Where a forecast, or a prospect statement, has been previously disclosed to shareholders, any variance between it and the actual results. Not applicable. 10. A commentary at the date of the announcement of the significant trends and competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months. On 18 July 2017, the announced its plan to expand into the healthcare sector with the signing of a non-legally binding term sheet to purchase the healthcare assets of Mr Lim Eng Hock, a controlling shareholder of Rowsley. The healthcare assets include a 100% stake in Thomson Medical Pte Ltd and a 70.36% stake in TMC Life Sciences Berhad. The is in the process of preparing and negotiating the terms of the definitive agreement and will make appropriate update announcements in due course. 15

10. Dividend Period ended 30 Sep 2017 30 Sep 2016 (a) Declaration of interim (final) ordinary dividend None None (b) (i) Dividend amount per share (cents) Not applicable Not applicable (b) (ii) Previous corresponding period (cents) - - (c) Whether the dividend is before tax, net of tax or tax exempt. If before tax or net of tax, state the tax rate and the country where the dividend derived. Not applicable Not applicable (d) The date the dividend is paid Not applicable Not applicable (e) Book closure date Not applicable Not applicable 12. If no dividend has been declared/recommended, a statement to that effect. No dividend has been declared. 13. If the has obtained a general mandate from shareholders for IPTs, the aggregate value of such transactions as required under Rule 920(1)(a)(ii). If no IPT mandate has been obtained, a statement to that effect. There was no reportable IPT as required under Rule 920(1)(a)(ii) and no IPT general mandate has been obtained during the reporting financial period. 14. Update on use of exercise proceeds from Warrants Issue. As at 30 September 2017, the exercise proceeds balance amounting to $309,680 had been utilized for working capital. 15. Negative Confirmation pursuant to rule 705(5) We, Tan Wee Tuck and Lai Huen Poh, being two directors of (the Company ) do hereby confirm on behalf of the directors of the Company that to the best of their knowledge nothing has come to the attention of the board of directors of the Company which may render the financial statements for the financial period ended 30 September 2017 to be false or misleading in any material aspect. 16. Confirmation that the issuer has procured undertakings from all its directors and executive officers (in the formet set out in appendix 7.7) under rule 720(1). The Company confirms that it has procured undertakings from all its directors and executive officers in the format set out in Appendix 7.7 under Rule 720(1) of the Listing Manual. BY ORDER OF THE BOARD Tan Wee Tuck Executive Director and Chief Executive Officer Lai Huen Poh Executive Director and Managing Director, RSP 3 November 2017 16